Maneuver, EU: Italy promoted but pay attention to spending

Green discourse in the backbone of the Budget Law for 2022. But Brussels asks to monitor public support for the economy and invites Rome to use the billions of the Recovery Fund to fuel growth for a long time

The new wave of the pandemic worries Europe not only for the health consequences but also for the repercussions it has the new restrictions they might have on the economy.

“To be clear: we do not expect there to be the same impact we had with the lockdown last winter,” said the European Commissioner for Economic Affairs, however. Paolo Gentiloni, which reminds us how the continent is experiencing strong growth.

The recovery also runs in Italy, which collects from Brussels there promotion on the maneuver for 2022. No red marks on the backbone of the budget law sent to the community authorities and which must be approved by December.

However, this green light does not prevent Rome from receiving an invitation to be cautious about keeping public accounts. To warn our country (but also Belgium, France, Greece and Spain) is the vice president of the Commission Valdis Dombrovskis, who underlines the increase in public spending. It must be kept under control, adds Gentiloni, convinced that this is also the opinion of Palazzo Chigi.

Our huge debt, Europe warns, imposes on us careful tax policies, also because financing on the markets (as Italy does) could cost more in the near future. Hence the suggestion to monitor the support to the economy, given in a colossal way to counter the Covid emergency.

All this is well known by the Minister of the Treasury Daniele Franco, according to whom this year growth could exceed 6 per cent by a few points, but is also convinced that we must march at a good pace until 2025 in order to manage the ballast weighing on state accounts.

In this sense, the Recovery Fund, which – Europe tells us – Italy will have to use well, with investments capable of giving lasting life to the recovery.